Oil futures remained below $100 and despite frightening things going on in the world there seems to be very little geopolitical risk premium showing up in the price of oil or options that are based on the oil market. OVX basically worked lower over the course of the week.
This past week was a busy one at The Options Institute. We bid farewell to the best group of interns I have worked with in my five years at CBOE and we also hosted a class of college students for our late summer Investing and Trading for College Students class. When we have busy weeks I do not get to keep an eye on the markets. I did see some headlines discussing higher gold prices and was surprised to see that GLD remains in the 120.00 to 130.00 range despite some headline hype. I think it is going to take a break over 130.00 or a move under 120.00 to really catch the interest of GVZ.
With GLD remaining range bound GVZ was pretty dormant as well, closing lower on Monday and then grinding higher as the week goes along.
Finally, the curves both moved in a pretty uniform pattern last week, with GVZ and respective futures moving higher and OVX and respective futures dropping on the week.